Oil marketing companies (OMCs) raised the price of petrol and diesel by Rs 2.61 per liter and Rs 2.71 per liter on Monday, the fourth increase in less than two weeks since the start of the Iran war.
Since fuel price adjustments resumed on May 15 following a protracted freeze, the total hikes in petrol and diesel prices have reached about Rs 7.5 per liter with the most recent review.
Fuel Prices Rise Sharply In Delhi
Following the most recent revision, petrol prices in Delhi went up to Rs 102.12 per litre from Rs 99.51, while diesel prices went up to Rs 95.20 per litre from Rs 92.49 per litre.
The frequent increases coincide with rising global crude oil prices, geopolitical unrest related to the Iranian conflict, and a declining rupee, all of which have raised the cost of imports for oil marketing firms.
According to senior officials from state-run oil companies like ONGC and Bharat Petroleum Corporation Ltd. (BPCL), the latest rises are a result of ongoing geopolitical problems in West Asia, rising crude oil prices, and gasoline retailers’ mounting underrecoveries.
The most recent rise is part of a string of fuel price adjustments that state-run retailers have made since mid-May in an effort to offset losses resulting from unstable international energy markets and increased import expenses.
| FAQ | Answer |
|---|---|
| How much have petrol and diesel prices increased? | Petrol prices increased by Rs 2.61 per litre, while diesel prices increased by Rs 2.71 per litre. |
| Why are fuel prices increasing in India? | Fuel prices are rising due to higher global crude oil prices, geopolitical tensions related to the Iran conflict, and the weakening rupee. |
| What are the latest petrol and diesel prices in Delhi? | Petrol in Delhi now costs Rs 102.12 per litre, while diesel is priced at Rs 95.20 per litre. |
| How many times have fuel prices increased recently? | This is the fourth fuel price hike in less than two weeks since May 15. |
| Which companies are revising fuel prices? | State-run oil marketing companies (OMCs) like ONGC and BPCL are managing the revisions. |
| How much have fuel prices increased overall since May 15? | Petrol and diesel prices have increased by around Rs 7.5 per litre in total since May 15. |
| What factors are impacting oil marketing companies? | Rising crude oil prices, global energy market volatility, and higher import costs are causing underrecoveries. |
| How do international events affect fuel prices in India? | Conflicts and geopolitical tensions in oil-producing regions influence global crude oil prices, impacting Indian fuel rates. |
